February 8, 2018 7:03pm ESTFebruary 8, 2018 6:58pm ESTBaseball, English, Tampa Bay Rays, MLBThe Rays have played in St. Petersburg since their inaugural season in 1998, but have been seeking a new stadium site for two years.Tropicana Field(Getty Images)

The Tampa Bay Rays are expected to announce Friday they plan to relocate the team from St. Petersburg to Tampa.

The Tampa Bay Times reported Thursday the team's choice for a new stadium site is just outside Ybor City near the Channel District, according to Hillsborough County Commissioner Ken Hagan.

The team's announcement is scheduled for 1:30 p.m. ET, at the Tampa Baseball Museum.

The Rays have played in Tropicana Field in St. Petersburg since their inaugural season in 1998. But the stadium is widely regarded as one of the worst in baseball. Noted sports economist Andrew Zimbalist once called it a "bad facility in a bad location."

Despite signing a 30-year lease at The Trop when they began play in 1998, the Rays got permission from St. Petersburg in early 2016 to begin searching for a new stadium site. The team eventually considered eight different locations before reportedly settling on the spot near Ybor City.

"This is a major step," Hagan told the Times. "I’m hopeful this will continue to build momentum on our effort to bring the Tampa Bay Rays to Ybor. (Friday's) announcement will go a long way toward that, and I imagine at some point in the near future they’ll announce their ballpark design."

A new stadium is far from a done deal. Financing must still be obtained, and the Times reports efforts will be launched Friday to line up sponsorships and ticket sales, which will demonstrate demand for the team's relocation. The Rays annually rank last in the majors in attendance.